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Matching bank transactions to grouped electronic payments

Bank feeds are an efficient way to manage money coming into and out of your bank accounts, including your payroll payments. But sometimes bank feeds doesn't reflect the particular way you pay your staff.

Most banks send employee payments as bulk transactions in bank feeds, which makes it easy to match them against grouped electronic payments in MYOB Business. But some banks send employee payments individually, which means you aren't able to match them. If this is happening to you, see the options below for matching these payments.

This help topic assumes you're using electronic payments to pay employees and that you bring bank transactions into MYOB Business using either bank feeds or by importing bank statements. We've focused on employee payments, but the same workarounds can be used if you pay suppliers electronically.

 There are a couple of different options you have:

  • Option 1: delete the grouped electronic payment and create individual electronic payments. Recommended if you have fewer employees to pay or you don't mind creating bank files for each individual employee payment.

  • Option 2: process the electronic payment to a payroll clearing account, then allocate the bank feed transaction to the same account. Recommended if you have many employees, or you just prefer to batch upload bank files.

Option 1: Delete the grouped electronic payment and create individual electronic payments

Option 2: Allocate the bank feed transaction to a clearing account

This is a relatively straight-forward workaround but it has a few steps. If you need assistance with doing this, consult your accounting advisor.

Let's take you through it.

Need help?

If the steps above didn't help you, you can contact our support team.